The global Smart Appliances market was valued at US$ 19420 million in 2022 and is projected to reach US$ 41070 million by 2029, at a CAGR of 11.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
| Market size in 2022 | US$ 19420 million | Forecast Market size by 2029 | US$ 41070 million |
|---|---|---|---|
| Growth Rate | CAGR of 11.3% | Number of Pages | 200+ Pages |
Smart appliances are modern household or industrial appliances that come equipped with advanced technology, usually in the form of embedded systems, sensors, and connectivity features. Their primary purpose is to make our lives more convenient, efficient, and functional. By incorporating automation, data analysis, and remote control capabilities, these appliances offer enhanced user experiences.
Through their connectivity, smart appliances can interact with the internet and other devices, allowing users to control and monitor them remotely using smartphones, tablets, or computers. This feature enables users to manage their appliances from anywhere, providing a greater level of flexibility and convenience.
Smart appliances are growing in value within the wider smart home as OEMs leverage network connectivity to provide a wide range of smart functions such as: remote control, monitoring, and maintenance to the consumer, in turn providing opportunity for OEMs to improve internal and customer relationship management as well as support the development and integration of new revenue streams.
Smart Appliances Market assesses the current smart appliance market as well as key market drivers and inhibitors. It assesses the most recent market developments across a range of appliances such as: Washing Machines, Dryers, Dishwashers and Fridges, additionally introducing new coverage of Smart Air Conditioners, Ovens and Countertop Appliances; provides case studies from appliance vendors such as: Dyson, Gourmia, Haier, Samsung and Xiaomi and gives strategic recommendations to vendors and other smart home players.
Smart Appliances Market aims to provide a comprehensive presentation of the global market for Smart Appliances, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Smart Appliances. Smart Appliances Market contains market size and forecasts of Smart Appliances in global, including the following market information:
- Global Smart Appliances Market Revenue, 2018-2023, 2024-2029, ($ millions)
- Global Smart Appliances Market Sales, 2018-2023, 2024-2029, (K Units)
- Global top five Smart Appliances companies in 2022 (%)
The U.S. Market is Estimated at $ Million in 2022, While China is Forecast to Reach $ Million.
Washing Machines Segment to Reach $ Million by 2029, with a % CAGR in next six years.
In North America, the smart appliances market is projected to experience a robust CAGR of 17.2% from 2023 to 2032. This growth is primarily fueled by the rising demand for these appliances among both millennials and baby boomers. Millennials, known for their affinity towards adopting new technologies, are keenly embracing smart appliances, while baby boomers are seeking ways to enhance their homes’ energy efficiency.
Similarly, in Europe, the smart appliances market is set to witness an impressive CAGR of 17.37% from 2023 to 2032. The driving force behind this growth is the increasing demand from environmentally-conscious consumers. Smart appliances offer energy-saving capabilities, enabling consumers to reduce their ecological footprint and save on utility expenses, making them highly appealing to environmentally-conscious individuals.
Across the Asia Pacific region, the smart appliances market is predicted to experience significant growth, with a projected CAGR of 18.20% from 2023 to 2032. The surge in demand is attributable to consumers seeking the convenience and security features offered by these appliances. With remote control functionality, smart appliances cater to the busy lifestyles of consumers, providing unparalleled convenience. Additionally, the incorporation of security features addresses the concerns of consumers regarding home safety, further driving their popularity.
Meanwhile, in Latin America, the smart appliances market is forecasted to grow steadily, with an expected CAGR of 15.00% from 2023 to 2032. The rising demand is attributed to consumers’ desire to enhance their quality of life. Smart appliances contribute to creating more comfortable and efficient homes, resonating with consumers seeking to improve their daily living experiences in the region.
The global key manufacturers of Smart Appliances include Remote Technologies Inc, Samsung, Interface, Inc., Haier Group Inc, Visual Group, Bosch, Via Technologies, Dyson and Midea, etc. in 2022, the global top five players have a share approximately % in terms of revenue.
We surveyed the Smart Appliances manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
| Report Attributes | Report Details |
|---|---|
| Report Title | Smart Appliances Market Size, Emerging Trends, Technological Advancements, and Business Strategies 2023-2032 |
| Market Size In 2022 | US$ 19420 million |
| Market Size By 2029 | US$ 41070 million |
| Growth Rate | CAGR of 11.3% |
| By Type |
|
| By Connectivity |
|
| By Technology |
|
| Key Players |
|
| Historical Year | 2018 to 2022 (Data from 2010 can be provided as per availability) |
|---|---|
| Base Year | 2022 |
| Forecast Year | 2030 |
| Number of Pages | 100+ Pages |
| Customization Available | Yes, the report can be customized as per your requirements. |
Total Market by Segment:
Global Smart Appliances Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Smart Appliances Market Segment Percentages, by Type, 2022 (%)
- Washing Machines
- Dryers
- Dishwashers
- Refrigerators
- Air Conditioners
- Ovens and Cookers
- Others
Global Smart Appliances Market, by Connectivity, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Smart Appliances Market Segment Percentages, by Connectivity, 2022 (%)
- Wi-Fi Enabled Appliances
- Bluetooth Enabled Appliances
Global Smart Appliances Market, by Technology , 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Smart Appliances Market Segment Percentages, by Technology , 2022 (%)
- Embedded Systems-based Appliances
- AI and Machine Learning Integrated Appliances
- Voice Assistant Enabled Appliances (e.g., Alexa, Google Assistant)
- Sensor-driven Appliances
Global Smart Appliances Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Smart Appliances Market Segment Percentages, by Application, 2022 (%)
- Commercial
- Household
Global Smart Appliances Market, by Distribution channels, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Smart Appliances Market Segment Percentages, by Distribution channels, 2022 (%)
- Retail Stores
- Online Retailers
- Direct Sales
- Subscription Services
- Rental Services
Global Smart Appliances Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Smart Appliances Market Segment Percentages, By Region and Country, 2022 (%)
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- The Middle East and Africa (Middle East, Africa)
- South and Central America (Brazil, Argentina, Rest of SCA)
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Smart Appliances revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Smart Appliances revenues share in global market, 2022 (%)
Key companies Smart Appliances sales in global market, 2018-2023 (Estimated), (K Units)
Key companies Smart Appliances sales share in global market, 2022 (%)
key players include:
- Remote Technologies Inc
- Samsung
- Interface, Inc.
- Haier Group Inc
- Visual Group
- Bosch
- Via Technologies
- Dyson
- Midea
- GREE
- Meiling
- Hisense
- TCL
- Robam
- Changhong
- Fotile
Key Trends:
Increasing Demand for Connectivity: The smart appliances market is experiencing significant growth due to the increasing demand for connectivity. Consumers are seeking ways to connect their appliances to the internet, enabling remote control and energy usage monitoring.
Growing Popularity of Voice Control: Voice control is a prominent trend in the smart appliances market. Consumers are embracing voice assistants like Amazon Alexa and Google Assistant to conveniently operate their appliances using voice commands.
The Rise of Smart Home Ecosystems: Smart home ecosystems are gaining popularity, allowing consumers to connect all their smart appliances through a single app. This seamless integration simplifies smart home management and enables task automation.
Development of New Technologies: Advancements in technology, such as artificial intelligence (AI), are propelling the smart appliances market. AI enables appliances to learn and adapt to user preferences, enhancing user-friendliness and efficiency.
Growing Focus on Energy Efficiency: Energy efficiency is a key focus driving the smart appliances market. Consumers are actively seeking ways to reduce energy consumption, and smart appliances provide solutions, such as optimizing operation during off-peak hours to take advantage of lower energy costs.
